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D (Co O111u d) � a- � 10 5 � 1 G Page 3
<br />claims, (B) to provide any required insurance on the Property, (C) to make repairs to the Property or to comply with any obligation to
<br />maintain Existing Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that
<br />would materially affect Lender's interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of
<br />the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any
<br />applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable
<br />at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rfghts provided for in this paragraph shall be in
<br />addition to any other rights or any remedies to which Lender may be entiUed on account of any default Any such action by Lender shall
<br />not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Tltle. Trustor warrants that: (a) Trustor holds good and marketabte title of record to the Property in fee simple, free and clear of ali
<br />liens and encumbrances other than those set forth in the Real Properly description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title oplNon issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver thfs Deed of Trust to Lender.
<br />Defense of Tltle. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shall be entiUed to participate ln the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compllance Wlth Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />Iaws, ordinances, and regulations of govemmental authorities.
<br />Survival of Promises, All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shall be conUnuing in nature and shall remain in full force and effect unUl such Ume as Borrower's
<br />Indebtedness is paid in fult.
<br />EXISTING INDEBTEDNESS. The following provisions conceming Existfng Indebtedness are a part of this Deed of Trust:
<br />Existing Llen. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to the lien secu�ing payment of
<br />an existing obligation. The existing obligation has a current principal balance of approximately $187,345.00. The obligation has the
<br />following payment terms: $1,432.00 per Month. Trustor expressly covenants and agrees to pay, or see to the payment of, the
<br />Existing Indebtedness and to prevent any default on such indeb,tedness, any default under the instruments evidencing such
<br />indebtedness, or any default under any security documents for such indebtedness.
<br />No Modificatlon. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall prompUy
<br />take such steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participadon.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attomeys' fees incurred by Trustee or Lender in connection with the condemnatlon.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provlsions relaUng to govemmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust
<br />and take whatever other action is requested by Lender to pertect and continue Lender's lien on the Real Property. Trustor shatl
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, pertecting or conNnuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or reglstering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Borrower which Borrower Is authorized or
<br />required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on
<br />payments of principal and interest made by Borrower.
<br />Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this D�d of Trust, this event shall
<br />have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as
<br />provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tau as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security saUsfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The foliowing provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Security Agreemen� This instrument shall constitute a Security Agreement to the extent any of the Property constltutes fixtures, and
<br />Lender shall have all of the rights of a secured parry under the Unfform Commercial Code as amended from tlme to time.
<br />Security Interest Upon request by Lender, Trustor shall take whatever actlon is requested by Lender to perfect and continue Lender's
<br />securlty interest in the Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any
<br />time and without further authorization from Trustor, flle executed counterparts, copies or reproductions of this Deed of Trust as a
<br />financing statement. Trustor shall reimburse Lender for atl expenses incurred in pertecting or contlnuing this secu�ity interest Upon
<br />default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a place reasonabty convenient to Trustor and Lender and make it
<br />available to Lender within three (3) days after receipt of written demand from Lender to the eutent permitted by applicable law.
<br />Addresses. The maiting addresses of Tnastor (debtor) and Lender (secured party) from which information conceming the security
<br />interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the flrst
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attomey-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from Ume to time, upon request of Lender, Trustor will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, puse to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, con�nuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
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